Singapore surpasses the US and China to become the world's leading country in blockchain technology, thanks to its impressive number of patents, jobs, and cryptocurrency exchanges.
According to a study on December 21 by ApeX Protocol, a multi-chain liquidity platform, Singapore has been ranked as the world's top country in blockchain technology, with a total score of 85.4. The study evaluated based on three main criteria: the number of blockchain patents, blockchain-related jobs, and the number of active cryptocurrency exchanges in each country.
The results show that Singapore owns 1,600 patents, creates 2,433 jobs, and is home to 81 exchanges, outperforming its population of less than 6 million. The Hong Kong Special Administrative Region (China) closely follows in second place with 82.7 points, thanks to its strong financial ecosystem and active support for blockchain adoption. Estonia, a small country with only 1.4 million people, also made a strong impression by ranking third with 81.5 points, owning 95 patents and 52 cryptocurrency exchanges.
US: Enormous blockchain potential held back
Despite its significant potential with 32,000 patents, over 17,000 jobs, and 166 cryptocurrency exchanges, the US only ranks behind Switzerland, Canada, Australia, South Korea, the UK, and the UAE in this study.
One of the main reasons cited is the government's Operation Chokepoint 2.0 campaign, which has been criticized for putting pressure on banks, forcing them to cut ties with the cryptocurrency industry. Representative French Hill, who is expected to lead the House Financial Services Committee, has spoken out against this campaign, saying it has had a negative impact on the industry's development.
Mr. Hill also expressed hope for the recovery of the cryptocurrency industry under the new administration and pledged to push for legislation on the cryptocurrency market structure within the first 100 days of the next legislative session, in support of former President Donald Trump's goal of making the US the "blockchain capital of the world".
The appointment of Paul Atkins, a cryptocurrency supporter, as Chair of the Securities and Exchange Commission (SEC), and David Sacks, former PayPal COO, as a policy advisor on artificial intelligence and cryptocurrencies, are also seen as positive signals for the development of the blockchain industry in the US.
